November 29, 2021

The World Stock Markets Tips & Targets, News, Views & Updates

The World Stock Markets Tips & Targets, News, Views & Updates

Jack in the Box shares slump after margin decline

Jack in the Box Inc. JACK, -1.70% shares slumped 7.1% in Tuesday premarket trading after the taco chain reported a fiscal fourth-quarter margin decline and same-store sales that missed expectations. Net income totaled $38.9 million, or $1.80 per share, up from $37.8 million, or $1.64 per share, last year. Revenue totaled $278.5 million, up from $255.4 million last year. The FactSet consensus was for EPS of $1.74 and revenue of $268.9 million. Same-store sales edged up 0.1%, missing the FactSet consensus for 3.1% growth. Restaurant-level margins were 20.1%, down 6.9% from the year-ago period, driven by higher costs, taking back lower-volume franchises and higher wages. Jack in the Box stock is up 3.2% for the year to date while the S&P 500 index SPX, -0.32% has gained 24.7% for the period.

Share This :